Plan to reopen collapsed Colmont School

The Colmont School, which closed owing millions and leaving hundreds of students in limbo, is set to reopen next year.

A white knight investor is preparing to save the Colmont School. Picture: Supplied

Colmont School is set to reopen in 2023 under a new owner, administrators have revealed.

The college, which was formerly known as Kilmore International School, closed its doors in August owing creditors millions of dollars and leaving hundreds of students stranded.

More than 350 students were given just days to find new school and 150 staff were left without a job.

A spokesman for Cor Cordis – the school’s second lot of administrators – said they have “significantly progressed matters with an interested party, represented by Mr Ayub Kahn, who we understand is in the process of making the relevant application to the Victorian Registration and Qualification Agency for the school’s reinstatement in 2023”.

“The interested party has engaged with former staff and parents to assist with this process,” they said.

“In order for the interested party to obtain the necessary information to complete the application, we have agreed a short-term position to the plant and equipment and site arrangement which enables the outcome of the VRQA application to be progressed and for

an offer to be received in relation to the plant,” the spokesman said.

Students and parents of Kilmore’s collapsed Colmont School earlier this year protested outside Parliament House for the school to be saved. Picture: Ian Currie

The administrators said the landlord and Mr Kahn are in the process of negotiating and

finalising a lease agreement.

“The landlord has provided us with an extension of the rent-free period to the end of the month. We anticipate providing an update to the Committee of Inspection next week,” they said.

In relation to the school’s funds, Cor Cordis said separate accounts were not maintained for school fees.

“Rather, the Colmont School operated from one main trading account,” they said.

In another sign that the troubled school could be saved in time for the 2023 school year, parents have been asked to complete expression of interest forms to begin the enrolment process ahead of next year.

Parents with children between grade 3 and year 11 have been asked to apply for the school.

Year 12 enrolments have not been included for 2023.

The Herald Sun understands that a prospective angel investor met with parents last week to discuss the possibility of restoring the former Kilmore International School.

Deb James, Victorian secretary of the Independent Education Union, said that while the union doesn’t oppose the reopening of Colmont, there are some key issues needing urgent clarification.

“Firstly, any potential new operator must honour the significant outstanding entitlements owed to staff, including leave entitlements,” Ms James said.

“Secondly, we seek assurances that the school will not be run on a for-profit basis.

“Finally, it is vital that before approving any application for registration, the VRQA is confident that the governance and financial structures of the school are strong and do not create any risk of another collapse.”

News of the school’s potential revival comes as former parents remain in the dark about whether they will be refunded their thousands of dollars in tuition and boarding fees paid before the school collapsed in June.

Cor Cordis will hold a second meeting of creditors in early November, with creditors to receive a detailed report within five business days prior to the meeting.

Administrators estimate more than $6m is owed, with $3.4m owing to staff, $300,000 to secured creditors, $2.2m for tuition and bonds and $315,000 for trade suppliers.

The administrators also said they had commenced transferring default tuition fees for international students to the students’ new schools under the Education Services for Overseas Students requirements.

They were given until November 21 to allow them to consider the school financial position and investigate proposals for reopening the school.